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. >> sreenivasan: ben bernanke also had several caveats. explain those? >> so ben bernanke, the fed chairman, was very clear that today's statement doesn't represent an abandonment of low inflation. he said, for example, that if inflation were to rise unexpectedly, over 2.5% in their own forecasts, that might be reason enough for them to start raising interest rates even if unemployment has not come down 206.5%. >> sreenivasan: markets traditionally love certainty. why didn't they embrace it today? >> i think markets are starting to question whether the fed actually has the ability to deliver on this commitment to low unemployment. they've got the interest rates at 0, they have trillions of dollars worth of bonds and still the economy is very, very weak. >> sreenivasan: going forward, are there things that we should be looking for as signs from the fed on what's going to happen or should we be paying more attention to unemployment rate? >> well, the fed has taken one more step today. they're doubling the amount of bonds they're buying by printing money. t
. >> sreenivasan: ben bernanke also had several caveats. explain those? >> so ben bernanke, the fed chairman, was very clear that today's statement doesn't represent an abandonment of low inflation. he said, for example, that if inflation were to rise unexpectedly, over 2.5% in their own forecasts, that might be reason enough for them to start raising interest rates even if unemployment has not come down 206.5%. >> sreenivasan: markets traditionally love certainty. why didn't...
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Dec 12, 2012
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i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the governor is suggesting? >> we're in trouble anyway this quarter and the next quarter and putting on taxes of any kind would be the wrong thing to do. sometimes the governor is a former physician, current physician, and you learn first go don't harm the patient. putting on taxes would harm the patient. we've seen that around the world. >> what do we do with the deficit problem we have? >> the only way to get rid of a deficit ultimately, spending restraint. you've got to do entitlement reform. that will take months, not a few weeks, but it's grow the economy. if we had revenues equal to what we normally do, 18%, 19% of gdp, that cuts the deficit in half. there's no way you can tax and cut spend out of this contraction. the last time we tried that was the early 1930s. did not work. >> let me di
i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the governor is suggesting? >> we're in trouble anyway this quarter and the next quarter and putting on taxes of any kind would be the wrong thing to do. sometimes the governor is a former...
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Dec 9, 2012
12/12
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ben bernanke was saying the deficit could be cut too far and too fast at the same time. this has to be the time where we don't go into an austerity program. we are not quite there. if businesses are spending and consumers are spending and trade was helping, i would say that is the right time to be doing this. the deficit reduction has to be done in context. host: this is from "the wall street journal"last week -- guest: they are not spending because they are angry at washington but they don't have the demand for their goods and services. that is the way it is now. have a great incentive to do anything. we're spending this money on the wrong things. the president proposed additional stimulus of measures including infrastructure. thenot sure you can rely on private sector to kick in that quickly. host: guest: on the issue of growth -- this is a fundamental issue. the only disagreement is how you get to it. my concern about the fiscal cliff is it will hurt book -- growth and we will get a recession you can never fix your debt problems and a recession. businesses and their i
ben bernanke was saying the deficit could be cut too far and too fast at the same time. this has to be the time where we don't go into an austerity program. we are not quite there. if businesses are spending and consumers are spending and trade was helping, i would say that is the right time to be doing this. the deficit reduction has to be done in context. host: this is from "the wall street journal"last week -- guest: they are not spending because they are angry at washington but...
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Dec 10, 2012
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ben bernanke was saying the deficit could be cut too far and too fast at the same time. this has to be the time where we don't go into an austerity program. we are not quite there. if businesses are spending and consumers are spending and trade was helping, i would say that is the right time to be doing this. the deficit reduction has to be done in context. host: this is from "the wall street journal"last week -- guest: they are not spending because they are angry at washington but they don't have the demand for their goods and services. that is the way it is now. they don't have a great incentive to do anything. we're spending this money on the wrong things. the president proposed additional stimulus of measures including infrastructure. i'm not sure you can rely on the private sector to kick in that quickly. host: guest: on the issue of growth -- this is a fundamental issue. the only disagreement is how you get to it. my concern about the fiscal cliff is it will hurt book -- growth and we will get a recession you can never fix your debt problems and a recession. busine
ben bernanke was saying the deficit could be cut too far and too fast at the same time. this has to be the time where we don't go into an austerity program. we are not quite there. if businesses are spending and consumers are spending and trade was helping, i would say that is the right time to be doing this. the deficit reduction has to be done in context. host: this is from "the wall street journal"last week -- guest: they are not spending because they are angry at washington but...
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Dec 10, 2012
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federal reserve chairman ben bernanke as he kicks off a two day fed meeting and also, watching to see if any more details coming at the meeting we started between the fox report and house speaker boehner and we'll learn if nell they'll tell us about the fiscal cliff. >> and christmas cards and decorating trees and all that, i'm still not happy. >> was is charlie brown depressed? may maybe-- greg gutfeld weighs on the double standard. and-- >> we're going to have to see the rates on the top 2% go up and we're not going to get a deal without it. >> virginia congressman on whether the president is willing to go over the fiscal cliff so he can blame the g.o.p. >> plus, olympic gold medal winning gabby douglas on the role of faith in her triumph. ladies and gentlemen, governor mike huckabee. [applaus [applause] >> thank you very much, great audience. welcome to huckabee from the fox news studios in new york city. [applause]. well for the past few weeks, i've traveled to about 48 city signing dear chandler, dear scarlet and i met several thousand who watched the show every week, it's.that a
federal reserve chairman ben bernanke as he kicks off a two day fed meeting and also, watching to see if any more details coming at the meeting we started between the fox report and house speaker boehner and we'll learn if nell they'll tell us about the fiscal cliff. >> and christmas cards and decorating trees and all that, i'm still not happy. >> was is charlie brown depressed? may maybe-- greg gutfeld weighs on the double standard. and-- >> we're going to have to see the...
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Dec 12, 2012
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fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>> americans are upbeat about the economy. 43% of americans say they are optimistic about 2013 and believe the economy is rebounding, nearly twice as many as last year. >> can i ask? the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the first of the year, a big stock marke
fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>>...
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Dec 12, 2012
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the podium waiting for ben bernanke to make his announcement. steve is inside that room and we will have live coverage of that event for you sccoming up as "street signs" comes up at 2. ceo of destination wealth management, i know you will be waiting to see how the fed chief elab rates on the process of coming to these particular targets. >> yeah, it will be fascinating as reported already. we have historic targets. something very specific that people have been screaming for. when is unwinding going to happen? he set the targets now. we will see what the language is. >> very quickly. what three stocks do you think would be a good play given the environment we're in. >> three quick names. first of all, master card. master card will continue to
the podium waiting for ben bernanke to make his announcement. steve is inside that room and we will have live coverage of that event for you sccoming up as "street signs" comes up at 2. ceo of destination wealth management, i know you will be waiting to see how the fed chief elab rates on the process of coming to these particular targets. >> yeah, it will be fascinating as reported already. we have historic targets. something very specific that people have been screaming for....
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Dec 11, 2012
12/12
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that said, that awareness, that recognition ben bernanke and a former bush a chair have embraced, that our problems are about demand rather than structural, this should not undermine the fundamental importance of dealing with skills or that we may face temporary or future skills gaps. i think there are three reasons why we should be focused on this. number one, even the unemployment today that is fundamentally about cyclical demand, less strength in the economy, can easily become the next structural skills problem of the future. we know that one of the challenges we face right now in our economy is not just lowering unemployment but lowering long-term unemployment, and we allow legions of our fellow citizens to stay unemployed for one year or two years, we know from study after study, that they will have more trouble reestablishing their skills going forward. that would be a humanitarian crisis for us as a country, but also we would also be sitting by and letting a structural skills gap expand because we're not taking enough efforts right now to get people back to work and to deal with
that said, that awareness, that recognition ben bernanke and a former bush a chair have embraced, that our problems are about demand rather than structural, this should not undermine the fundamental importance of dealing with skills or that we may face temporary or future skills gaps. i think there are three reasons why we should be focused on this. number one, even the unemployment today that is fundamentally about cyclical demand, less strength in the economy, can easily become the next...
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Dec 10, 2012
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>>> a news conference by chairman ben bernanke, set for wednesday.
>>> a news conference by chairman ben bernanke, set for wednesday.
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Dec 12, 2012
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that's when we find out if ben bernanke is going to keep on printing a ton of money. until then, dead flat for the market. the dow right now is up 9. the fed will make the announcement at 12:15 eastern. eli lilly launching a new trial in its alzheimer's drug. didn't work in two previous attempts. give it one more chance. the stock is down. berkshire hathaway buys back at $131 a share, that's a buyback. caterpillar latest company to move up its dividend payment, pay out on new year's eve instead of next year because of the big tax increase that could be coming next year. says the move is in the best interest of its shareholders. it sure is. we are back in 90 seconds with the gas buddy. gas prices falling steadily, under 3 bucks a gallon in some places. to generate income? th fidelity's neoptions platform, we've completely integrated every step of the process, making it sier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped crea
that's when we find out if ben bernanke is going to keep on printing a ton of money. until then, dead flat for the market. the dow right now is up 9. the fed will make the announcement at 12:15 eastern. eli lilly launching a new trial in its alzheimer's drug. didn't work in two previous attempts. give it one more chance. the stock is down. berkshire hathaway buys back at $131 a share, that's a buyback. caterpillar latest company to move up its dividend payment, pay out on new year's eve instead...
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Dec 11, 2012
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and ben bernanke's news conference at 2:15. the fed is expected to launch a new bond buying program called operation twist that will expire at the enovd month. james, we know this is a huge meeting. this is obviously a good time for the fed to embark on something new for 2013. is this the wise approach? >> well, it's the wise approach in a very near term, a, because operation twist is coming to an end. b, because we have the fiscal cliff or fiscal gentle slope or whatever it turns out to be to negotiate and c, because we haven't found our legs in the u.s. and we clearly have some global headwinds coming in 2013. however, the thing about this qe in the u.s., unlike previous ones where they could see big economic problems, let's comfort the market with a really big number, this time we're going to do it month by month. solo the annual figures look very big, they're going to halt qe as long as it looks like there's inflation. >> which means there might not be much market reaction as investors realize that. >>> find out what travel
and ben bernanke's news conference at 2:15. the fed is expected to launch a new bond buying program called operation twist that will expire at the enovd month. james, we know this is a huge meeting. this is obviously a good time for the fed to embark on something new for 2013. is this the wise approach? >> well, it's the wise approach in a very near term, a, because operation twist is coming to an end. b, because we have the fiscal cliff or fiscal gentle slope or whatever it turns out to...
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Dec 12, 2012
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federal reserve chairman ben bernanke admitted that the spending levels of this administration are unsustainable, just as president clinton declared years ago, the era of big government is over. this congress needs to man up and declare the era of taxing, spending and borrowing is over as well. now is the time for the president to provide leadership and level with the american people and set aside the campaign rhetoric of class warfare division and envy. small businesses cannot and should not be painted with the same broad brush as millionaires, billionaires and wall street executives. we must protect our small businesses and stop promoting the treatment of their income the same as the wealthy. at the same time, this administration needs to admit that raising taxes on small businesses will not help small businesses. we must prioritize our fiscal negotiations by putting spending reductions before addressing new receive news. mr. speaker -- revenues. mr. speaker, i came to washington to get something done. speaker boehner shows he understands the gravity of the situation and wants to find a soluti
federal reserve chairman ben bernanke admitted that the spending levels of this administration are unsustainable, just as president clinton declared years ago, the era of big government is over. this congress needs to man up and declare the era of taxing, spending and borrowing is over as well. now is the time for the president to provide leadership and level with the american people and set aside the campaign rhetoric of class warfare division and envy. small businesses cannot and should not...
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Dec 6, 2012
12/12
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bernanke. >> absolutely. >> let's look at another area. >> can i add one more point? >> sure. >> when you look at it and larry summers was on this morning, whom i have great respect for, he had the piece from the imf study when you cut the deficit by 1%, what is the impact on the gdp. they didn't get into that this morning but if his numbers he's using 0.9 to 1.4, if you lose 2% to 3% of gdp you'll go to negative growth which will impact -- >> at the very least the wheels will be on the runway. >> absolutely. >> let's switch gears, mario draghi today, listen, i was so wrong and i don't know how long it will last but i give him credit, at least for this period of time, how long it lasts because there is no growth and recession in europe i can't answer but what were your observations on that press conference? >> last night when i wrote about it, mario draghi can put his feet up and have a stella and enjoy. he bought himself time. july 6th will be mario draghi's day of celebration because he stemmed the financial crisis in europe and bought time. berlusconi comes onto th
bernanke. >> absolutely. >> let's look at another area. >> can i add one more point? >> sure. >> when you look at it and larry summers was on this morning, whom i have great respect for, he had the piece from the imf study when you cut the deficit by 1%, what is the impact on the gdp. they didn't get into that this morning but if his numbers he's using 0.9 to 1.4, if you lose 2% to 3% of gdp you'll go to negative growth which will impact -- >> at the very...